Member Info for CF73

Molten, you're the connoisseur! You have it to go with your waffle :-))

Molten, to honest, though I know what a PoS looks like, smells like and even feels like (have a baby daughter so have no choice), I have no clue as what a PoS tastes like.

Clearly, this is where your expertise and experience shines through and I lose out. Oh well.

Spoken to company a couple of times. They've reduced costs drastically. The money they had from previous is able to be used to cover basic costs. The focus is getting these discussions to a satisfactory conclusion. This brings in the capital we really need

As said, expecting news soon.

There's a lot to negotiate over RHA, and rightly so, from the level of the cash injection to the percentage we might retain and the remaining debt owed to us from the 'loan account'.

Discussions and correspondences ongoing. Trying to get this sorted as soon as possible.

Just one piece of news required, things turnaround with immediate effect.

We are in discussions. Looking to get this signed off as soon as possible. With RHA possible to be restarted very soon.

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Premier African Minerals Limited ("Premier" or the "Company") is pleased to report that the Company received a letter on the afternoon of 21 December 2018 from the Minister of Industry, Commerce and Enterprise Development ("Minister"). The Minister has asked for some further clarification on the history of Premier's involvement and the restructuring of RHA Tungsten Pvt Limited ("RHA") and includes a statement that the Zimbabwean Government is willing to inject funds required to resuscitate RHA.

https://www.investegate.co.uk/premier-african-min--prem-/rns/rha-update/201812241000014292L/

---------------------------------------------- and also;

Speaking by telephone from Harare, Minister Ndlovu said the Government was in a partnership arrangement with Premier African Minerals in the project.

“We are partners in that project where the Government holds 51 percent shares, so apparantly the operations have stalled because there is need for capital injection. It’s not much, I’ll not be able to disclose the amount now. We are still negotiating with them (Premier African Minerals) and we also want to verify if that is the exact figure (from Bara),” he said.

https://www.chronicle.co.zw/government-to-fund-premier-african-minerals-project/

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RainbowRider, do you have any further info, thoughts etc, indeed, how do you know that we might have a NOMAD lined up?

Great posts tedoby! Keep 'em coming :-)

No one can say what will happen. And yes, things here have been abominable.

But -- we have recent news and that is what I have to go on.

How about this Chippy. I will provide absolutely NO intervening interpretation, and simply post the below two pieces of relatively recent news. That way, we can separate my words from those contained within those respecticve sources:

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Premier African Minerals Limited ("Premier" or the "Company") is pleased to report that the Company received a letter on the afternoon of 21 December 2018 from the Minister of Industry, Commerce and Enterprise Development ("Minister"). The Minister has asked for some further clarification on the history of Premier's involvement and the restructuring of RHA Tungsten Pvt Limited ("RHA") and includes a statement that the Zimbabwean Government is willing to inject funds required to resuscitate RHA.

https://www.investegate.co.uk/premier-african-min--prem-/rns/rha-update/201812241000014292L/

---------------------------------------------- and also;

Speaking by telephone from Harare, Minister Ndlovu said the Government was in a partnership arrangement with Premier African Minerals in the project.

“We are partners in that project where the Government holds 51 percent shares, so apparantly the operations have stalled because there is need for capital injection. It’s not much, I’ll not be able to disclose the amount now. We are still negotiating with them (Premier African Minerals) and we also want to verify if that is the exact figure (from Bara),” he said.

https://www.chronicle.co.zw/government-to-fund-premier-african-minerals-project/

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So it's a discussion board no, is it?! ;-))

Your attempt to connect this currency story with prospects for RHA was chronically spurious.

You contiuned even after I posted the Jan 8th article where the relevant minster offers their specific comment. This is a specific story, a specific piece of evidence, set against your casting the net as wide and as speculatively as you could, to try to pour doubt here. And yet you persist with your waffle in the last post too.

Embarrassing!

Utter waffle Molten, seriously,

You're still using a very different issue to cast an eye over RHA negotiations, as if trying to raise money for their own currency is relevant to negotiations over RHA

The money that PREM seek will be from a very different pot to the one they need to build for their current, as in different departments have their own budgets. Trying to use a very different issue to pour doubt here is waffle

That minister's response tells me that some money is conning back to us. Just the amount in question is not being disclosed as is being verified.

This is the recent January 8th article:

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Speaking by telephone from Harare, Minister Ndlovu said the Government was in a partnership arrangement with Premier African Minerals in the project.

“We are partners in that project where the Government holds 51 percent shares, so apparantly the operations have stalled because there is need for capital injection. It’s not much, I’ll not be able to disclose the amount now. We are still negotiating with them (Premier African Minerals) and we also want to verify if that is the exact figure (from Bara),” he said.

https://www.chronicle.co.zw/government-to-fund-premier-african-minerals-project/

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Sorry Molten but you're using a general wider issue as if it necessarily has bearing here. The recent news article I've posted several times is a far more accurate/ appropriate source for direction on this. In that article from January 8th, the minister says they're in negotiations over RHA and that he is specifically looking at the amount in question.

...and PREM begins an immediate turn around...

...this could be happening soon as discussions/ negotiations with the Government have been ongoing...

...there are reportedly numbers being bounded about. Don't have them myself but even a cash injection of $2million would go a long way...

...and the possibility of increasing our stake yet still (cash injection doesn't necessarily preclude not being able to secure an increase in the stake following the rescinding of indigenisation laws)...

...all remain on the table...

...let's see if GR can finally pull summat off...

Continuupus dialogue between the Government and PREM progressing negotiations...

...looking to finalise RHA as soon as possible...

...worth noting that PREM were meant to be in UK last week, meeting re: NewCo and Circum...

If they inform is they have the NOAMD, they could come under pressure to return to trading ASAP before satisfactory resolution - that is, if they haven't got a good enough excuse. The current court case, as problematic as it is, may not constitute a good enough reason to be suspended if a NOMAD has been found. If they are a forced to trade again without good news sorted, the SP will be slaughtered -- and then you can imagine the additional pressure they'd be under from PIs

Remaining suspended right now is critical to their being able to fight the case, including ensuring energies are no unduly taken up eslewhere. For me, that also means not disclosing the situation regarding the NOAMD until is necessary

...will turn this...

...the assets are not worth nothing...

...work on RHA is poised to be restarted once an agreement is reached with the government. It is a wholly viable asset, with the mine plant built...

...discussions over RHA with government is complicated because there are various parts to this, from amount of funds that could be injected to what percentage we might continue to retain, as well as the money owed to us (or what might be left after initial injection)...

...it was always about bringing in capital direct from a partnership, government injection of funds, or by using ownership of those assets etc. so that we have a way forward meaingingfully on one or more of the assets/ projects in question...

...PREM have slashed costs to the bone and are able to manage their way through this period...

...if and when a positive agreement with RHA lands, we will be many multiples of the current SP...

...I don't think we have too long to go...

...my thoughts for what they are worth...

Broker can be NOMAD. Have seen elsewhere.

It is also possible Cairns come back into the picture.

But we won't hear anything until they're ready an is necessary. Time taken not to be considered a delay or that something is terribly wrong - notwithstanding the fact that something isn't terribly right.

FWIW, I see a OOC settlement where we'll come out of it bruised buy positioned to make 2019 transformational

I ain't religious but lardamercy LOL the lengths you go to undermine what was a perfectly sensible earlier post by me :-)

The bottom line of the point I was making was that Zimbabwe are acutely aware of the significance of international investment, as evidenced by their courting Russian finance and by their recent mention potentially supporting PREM with funds to get RHA going again.

Good luck to all the genuine folks!